Discuss in Brief the Waves of Innovation That Have Taken

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Examlex · Accepted Answer

The Answer is There are five waves of technological revolution.
•The first wave of innovation took place between 1785 and 1845.This was the time when water power was harnessed,textiles were developed,and iron was extensively used.
•The second wave of innovation took place between 1845 and 1900.This was when the power of steam was harnessed,railways were developed,and steel was put to extensive use.
•The third wave took place between 1900 and 1950.In this period,electricity was discovered and put to use,chemicals were used,and the internal-combustion engine was developed.
•The fourth wave took place between 1950 and 1990,during which period petrochemicals,electronics,and aviation made their presence felt.
•The fifth and final wave of innovation started from 1990 and is expected to continue up to 2020.Digital networks,software,new media,and biotechnology have already arrived.
With each wave innovations spread,stimulating economic booms of increased investment,rising productivity,and output growth.The shortening of successive waves reveals faster innovation.

Discuss in Brief the Waves of Innovation That Have Taken

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